DraftKings has partnered with Simpletbet to launch real-money micro-betting across its sports betting platform, according to a news release Tuesday.
The multi-year agreement will allow DraftKings customers to engage more deeply with the sports they love by betting play-by-play, throw-by-throw, and pitch-by-pitch throughout an event.
Simpebet is a technology company that produces a micro-betting product, allowing customers to bet on granular events.
Key Details of the Deal
Under the deal, DraftKings can offer Simplebet’s micro-betting products for the National Football League (NFL), Major League Baseball (MLB), and National Basketball Association (NBA), in addition to a new suite of college football products – the first micro-wagering product products available for collegiate sports. In addition, it will allow customers to bet on individual moments over the course of a game via the DraftKings platform.
Chris Bevilacqua, co-founder and CEO of Simplebet said the company is super-excited to be launching its real-money micro-betting products with the Boston-based sportsbook.
“These types of offerings represent the next evolution of sports wagering and provide increased opportunities for operators and fans alike,” Bevilacqua said as he looked forward to the successful roll-out and the excitement that accompanies micro-betting.
Revolutionizing In-Game Betting Experience for Customers
DraftKings is excited to be teaming up with Simplebet to revolutionize the in-game betting experience for its customers, said Paul Liberman, President, Global Product, and Technology at DraftKings. In a release, he said DraftKings customers can take part in this unique betting and engagement experience on its app.
Created in 2012, DraftKings is the second-largest sportsbook operator in the US – though BetMGM contests this – after FanDuel. The Boston-based company is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in as many as 17 countries.
DraftKings is digitally or physically present for sports betting in as many as 14 states in the US. The company is the official daily fantasy partner of the NFL, MLB, NASCAR, PGA Tour, and UFC. The sportsbook giant is also an authorized gaming operator of the NBA and MLB, official sportsbook partner of the NFL, and official betting operator of the PGA TOUR and UFC.
Simplebet Recent Funding Round
Earlier in March of this year, Simplebet announced it had raised $15 million in its financing round in a bid to enhance its sports betting product. The endeavor raised Simplebet’s total funding to $50 million.
The recent funding is aimed at enhancing the software company’s existing NFL, MLB, and NBA products by incorporating dozens of derivative micro-markets, launching new sports, bringing new subcategories of micro-markets, expanding engineering resources to explore further strategic opportunities.
Earlier this week, Simplebet named Jim Murren, former Chairman, and CEO of MGM Resorts International, to its board of directors. A veteran gaming executive like Murren could boost Simplebet’s efforts to lead micro-betting and fan engagement across the US sports betting, according to a news release Aug. 17.
Murren has also served as the Chairman of the American Gaming Association.
On the other hand, DraftKings seeks to reach uncharted territories by extending its offerings into new marketplaces outside the betting world. Earlier this month, the Boston-based operator’s NFT marketplace launched with exclusive debut content provided by Autograph.